The purpose of this post is to advance the conversation around community governance power.
If successful, this post will spur Coop contributors to circle around the ideal solution(s) that then lead to action.
Community governance power has been a topic for months
- It was first acknowledged after the IIP-7 vote here: IIP Voting Analysis.
- Then, it was a topic of conversation during the 10x from Here period.
- The other week, Craig Tutterow (@tutnyce), JD Cook (@jdcook) surfaced it with Index Coop Decision Gate 2 Governance Vote Analysis
- Now, it’s reared its head again with IIP’s 42-44 each failing to reach quorum over the weekend
Further, three recent proposals have addressed this challenge to a degree, though not head on
- IIP-26 Index Improvement Proposals V2 passed Snapshot voting and reduced product-launch (DG2) quorum from 15% to 10%, among other changes.
- IIP-32 Index Sales #1 passed Snapshot voting and is in implementation phase
- IIP-38 Update Snapshot Strategy passed Snapshot voting, but has not yet been implemented
Despite the importance of this topic, no concerted effort has yet been made to push forward solutions.
This begs the question, what do we do?
There are many ways we can address this. I see 3 broad categories:
- Increase current INDEX holder participation (i.e. EPNS when live, more/better vote rallying, enabling LP tokens to vote)
- Increase voting power of engaged voters/contributors (i.e. KPI options, other incentives)
- Concentrate voting power (i.e. enable INDEX delegation, enable WG multi-sigs to vote)
My current hypothesis is that we will need to implement more than one solution.
When it comes to solving substantive problems, I default-assume that there is no “silver bullet.”
Beyond, INDEX delegation, the rest are just ideas. The goal of this post is to push the conversation forward so that we can begin circling the best option(s) together.
What do you think would be effective?